Wednesday, May 25, 2011

Housing News Digest, May 25

Record low vacancy rate for Denver-area rental homes
The vacancy rate for Denver-area rental houses and condominiums hit its lowest level in the first quarter since Colorado officials have tracked the market.
Only 1.4 percent of single-family homes and condos were available for rent in the first quarter — the lowest rate since 2001, according to a Colorado Division of Housing report Tuesday.

Boulder has tightest rental market in state
Alex Halbleib, who will start as a doctoral student at the University of Colorado in the fall, launched his housing hunt this week.

His family drove out from Florida and is searching for a property at a time when single-family and condominium vacancies in the state have hit a historic low.

"It seems pretty tight," said Halbleib, who toured some apartment complexes with lengthy wait lists.

Springs cost of living 8% below national average

Falling prices for high-end homes helped keep local living costs from rising as fast as the rest of the nation during the first quarter, according to a quarterly survey.

Living costs in Colorado Springs were 8 percent below the national average during the January-to-March quarter, nearly the widest such gap in 20 years, according to a survey by the Council for Community and Economic Research. Local costs were 6.8 percent below the national average during the first quarter of 2010 and averaged 7.2 percent below the average for all of 2010.

Housing authority project gets award
The Village on Stanford, an affordable-housing complex run by Fort Collins Housing Authority, received the Energy and Green Building Award of Excellence from the Colorado Division of the National Association of Housing and Redevelopment Officials on Thursday and is now being considered for the association's national award in the same category.

Good time to be a landlord
Rachel Brand bought a house in Aurora as an investment in February and had it rented by mid-March.

It’s already cash flowing, with the monthly rent about $540 a month more than the mortgage amount.

Brand, principal of Brand Communications, bought the home, which is a pleasant walk from the Anschutz Medical Campus, because she wanted an investment with a steady return.

Survey: Longmont's homeless population up by 35 percent
LONGMONT -- Longmont's homeless population has increased by nearly 35 percent since 2009, according to the Metro Denver Homeless Initiative's point-in-time survey released last week.

The survey counted 636 homeless people who spent the night of Jan. 24 in Longmont. The survey from 2009 counted 414.